A Slim Dunk at KPN Sets Up Full Takeover

América Móvil's Offer for the Rest of KPN Looks Relatively Low but Stands a Decent Chance of Succeeding

By

Renée Schultes

Aug. 26, 2013 2:28 p.m. ET

That didn't take much.

Carlos Slim's América Móvil, trying to buy the 70.2% of KPN it doesn't yet own, had been angling to block the Dutch telecom group's sale of carrier E-Plus to Telefónica's German subsidiary. América Móvil contended that the price, €8.1 billion ($10.8 billion), undervalued the asset. Yet after direct negotiations with Telefónica, which wants to merge E-Plus with its own German operator,Telefónica Deutschland,...